RDP 2004-01: The Impact of Superannuation on Household Saving
Equation (B5)
c
t
=
c
t
y
+
c
t
m
+
c
t
o
W
t
=
w
t
y
+
w
t
m
=
(
e
t
y
−
c
t
y
)
+
(
e
t
m
−
c
t
m
)
+
(
1
+
r
t
−
1
)
(
(
e
t
−
1
y
−
c
t
−
1
y
)
)
S
t
=
W
t
−
W
t
−
1
=
e
t
y
−
c
t
y
+
e
t
m
−
c
t
m
+
r
t
−
1
(
e
t
−
1
y
−
c
t
−
1
y
)
−
(
e
t
−
1
m
−
c
t
−
1
m
)
−
(
(
1
+
r
t
−
2
)
(
e
t
−
2
y
−
c
t
−
2
y
)
)
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